Abstract：Under the guidance of public pressure theory and agenda setting theory, and using WeChat official account platform data, this study explores the impact mechanism of brokerage reports on enterprise ESG performance and the moderating role of the number of shareholders. Taking A-share listed companies from 2012 to 2020 as samples, the results of the study indicate that the reports on official account of securities companies have “supervision” effect and “information” effect, significantly improving the ESG performance of enterprises. The increase in shareholder size can amplify the dual effect of brokerage reports on enterprise ESG performance; Among enterprises in non-heavy pollution industries, enterprises with high degree of information asymmetry and enterprises with large scale, brokerage reports play a more significant role in improving the ESG of enterprises.
陈洪涛，何任翔，高小然，崔旭. 券商公众号报道对企业ESG表现的影响研究[J]. 管理学报, 2023, 20(12): 1762-.
CHEN Hongtao，HE Renxiang，GAO Xiaoran，CUI Xu. Research on the Impact of Brokerage WeChat Official Public Account Reports on ESG Performance. Chinese Journal of Management, 2023, 20(12): 1762-.
